By Tom Ryan
Shoppers are taking an average of 34 hours and 19 minutes from the time they first visit an e-commerce site to when they finally make a purchase, according to an analysis of 2.6 million online sales by ScanAlert, an online security firm.
The report, "Digital Window Shopping: The Long Delay Before Buying," shows the delay is now more than half a day (80 percent) longer than the 19 hour 11 minute average found in 2005.
The report's authors attribute the delays to greater sourcing choices and the availability of broadband access at work and in the home.
"It is a bit of a paradox for retailers, because while faster internet access allows you to complete your order quickly, it also enables you to jump rapidly from site to site," said Nigel Ravenhill, ScanAlert's director of marketing communications, in a statement. "Combine that with the increasing popularity of shopping search engines, and you have the ideal environment for increased digital window shopping."
The most notable behavior change appeared in "cautious shoppers." Among these consumers, 26 percent took more than three days to complete an online purchase; 18 percent took more than one week, and 6 percent took more than two weeks. These numbers rose 23 percent, 28 percent and 50 percent, respectively, compared with the same delay periods in 2005.
Among the conclusions reached by ScanAlert:
- Retailers must reevaluate their pay per click (PPC) advertising campaigns, using a much longer time frame to calculate ROI;
- Consumers spending the longest time shopping are also the most concerned about the safety of the sites where they shop - especially for those who abandon their carts to return later when ready to buy.
The 470 websites surveyed represented a cross-section of organizations, ranging from small, medium, and enterprise B2B and B2C retailers to nonprofits, content publishers, manufacturers, and e-commerce pure plays.
Discussion Question: Are you surprised by the findings that online shoppers are taking longer to complete their purchases? Should retailers be making any adjustments to marketing, merchandising, safety or other disciplines in their online efforts?